Auckland, New Zealand: 21 November 2018 – Besra announces that its Bau Project Mineral Resource and Ore Reserve has been updated to be compliant with the requirements of the JORC Code 2012. This is based on the previously released Mineral Resource and Ore Reserve estimates contained in Besra’s 2013 Feasibility Study which were reported under JORC 2004.
The methodology used in the 2013 Feasibility Study is entirely consistent with the requirements of the JORC Code 2012.
Besra’s Chief Executive Officer, John Seton, said, “This update brings our resource and reserve statements into line with the most recent JORC Code and affirms the previously released figures. The total Mineral Resource (Measured and Indicated) is 21,285,300 tonnes @ 1.64 Au g/t for 1.125 Mil Oz on a 100% basis. (Inferred Resources estimate is 51,329,000 tonnes @ 1.32 Au g/t.) Total Mineral Reserves (Proven and Probable) is 10.662 @ 1.72 Au g/t and are included in the Mineral Resource estimate.”
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The information in this media release that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Kevin J. Wright, a Fellow of the Institute of Materials, Minerals and Mining, a Chartered Engineer, and a Chartered Environmentalist. Mr Wright is an independent consultant.
Mr Wright has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ and a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. The information in this report that relates to metallurgical test work is based on information reviewed by Mr Wright.
Mr Wright consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made and information contained herein is “Forward-looking information” within the meaning of applicable securities laws, including statements concerning our plans at our producing mines and exploration projects, which involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, failure to establish estimated resources or to convert resources to mineable reserves; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; delays in obtaining or failure to obtain required governmental, environmental, or other project approvals; changes in national and local government legislation or regulations regarding environmental factors, royalties, taxation or foreign investment; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in commodity prices; delays in the development of projects; shortage of personnel with the requisite knowledge and skills to design and execute exploration and development programs; difficulties in arranging contracts for drilling and other exploration and development services; dependency on equity market financings to fund programs and maintain and develop mineral properties; and risks associated with title to resource properties due to the difficulties of determining the validity of certain claims and other risks and uncertainties, including those described in each management’s discussion and analysis released by the Company. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of gold; the availability of permits and surface rights; access to financing, equipment and labour and that the political environment in the jurisdictions within which the Company operates will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.